Basics of Medicare
Most Americans become eligible for Medicare benefits when they turn 65 years old. However, people under the age of 65 can receive Medicare benefits in the case of disability, in which a person would need to have received Social Security Disability Insurance checks, SSDI, for more than 24 months. Another way to become eligible for Medicare under the age of 65 is if a person is diagnosed with End-Stage Renal Disease, ESRD.
Medicare is funded by Social Security and Medicare taxes paid via your income, through Medicare paid premiums, and by the federal budget. Once you become Medicare-eligible, you can choose to receive Medicare benefits from Original Medicare, or from a Medicare Advantage plan, and employer sponsored retiree plan.
Why is speaking with a licensed insurance agent that specializes in Medicare plan options necessary? We provide expert guidance on available Medicare plan options, such as Medigap, Medicare Advantage, and Prescription Drug Plans(PDP) as well as plan features; physician networks, formularies (prescription drugs), and cost analysis for the following: premiums, copays, deductibles, and potential for extra help (not all qualify). Throughout the enrollment process and post-enrollment, you will have a personal contact to assist with questions, claims, or concerns, should any arise.
Call us today 1-855-745-5422 or use the form to the right to have a KHP licensed agent contact you, please include preferred time and method.
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Features of Medicare
Original Medicare, offered directly through the federal government, includes coverage for Part A and or Part B related services. Part A includes inpatient and hospital services, while Part B includes doctor and outpatient visits, and some medical services. With Original Medicare, a beneficiary will not have prescription drug coverage. Therefore, most Medicare beneficiaries choose to join private, stand-alone Prescription Drug Plans (PDP).
Medicare Advantage plans, offered through Medicare-contracted private insurance companies, must cover all the services that Original Medicare provides. The advantage to these plans are the extra benefits, such as vision, dental, hearing, prescription drug coverage, fixed co pays, transportation, and wellness programs. Medicare Advantage plans use these extra benefits to provide considerable value over Original Medicare, not to mention some plans are available at no cost (extra benefits vary by state and plan type). To enroll in a Medicare Advantage plan, you must maintain Original Medicare Part A and B, and continue to pay your Part B premium and reside in the service area.
With Original Medicare, prescription drug coverage is optional. This means that if you decide not to get Medicare drug coverage when first eligible, you will be subject to a late enrollment penalty.
Talk to one of our licensed insurance agents about your Medicare plan options at 1-855-745-5422.